Houthis hit Saudi energy, airport and military targets; Iran admits it laid naval mines in strait as WTI jumps ~5% to $108

What happened

Iran-backed Houthis said Tuesday they launched attacks on Saudi Arabian energy, airport and military targets, a direct strike on Saudi infrastructure rather than the intelligence/targeting assistance reported over the weekend. Separately, Iran stated Tuesday that two 'non-compliant' oil tankers caught fire after striking naval mines it had placed in the strait — an explicit admission of Iranian mine-laying. West Texas Intermediate surged nearly 5% to about $108.65 a barrel; Brent rose ~1.7% to around $111, near a five-month high, as traders priced in a geopolitical risk premium.

Who’s affected

• Energy producers and refiners (benefit from higher crude): XOM, CVX, oil majors
• Airlines and transport (fuel cost hit): DAL, UAL, AAL, freight carriers
• Consumer staples/retail (margin squeeze from fuel/logistics costs)
• Defense stocks on Middle East escalation risk

Sources

investors.comreuters.com